Sebi inks securities regulation pact with Luxembourg supervisory authority

NEW DELHI: Sebi on Thursday said it has signed an initial pact with Luxembourg supervisory authority for the financial sector, the Commission de Surveillance du Secteur Financier (CSSF), for mutual cooperation and technical assistance.

The objective of the Memorandum of Understanding (MoU) is to strengthen cross border cooperation in the area of securities regulation, Sebi said in a statement.

This will facilitate mutual assistance, contribute towards efficient performance of the supervisory functions, and enable effective enforcement of laws and regulations governing the securities markets.

The MoU, which was signed by Ajay Tyagi, Chairman of Sebi and Claude Marx, Director General, CSSF, took effect on June 2.

The Securities and Exchange Board of India (Sebi) has already signed MoUs with securities regulators of various jurisdictions. Sebi is also a signatory to the Multilateral MoU (MMoU) of the International Organization of Securities Commissions (IOSCO).